After the anticipated opening, the government would issue to local companies stock exchange licences two or three months later. About 10 companies are expected to meet the criteria for initial listing.

In August, Myanmar established the Securities Exchange Commission (SEC) to oversee the forthcoming bourse. It first passed the SEC law in July 2013.

On Sunday, the SEC applicants for service provider a Feb 28 deadline to submit their applications, reports Global Post.

Thein said the SEC would issue service licences for underwriters, dealers, brokers and consultants which each have different capital requirements. The basic licence is the one for underwriting since to apply for the three others, companies must first have an underwriter's licence.

Those who would qualify would be informed in mid-April, the deputy finance minister said.

Other than the opening of the stock market in the country that used to be known as Burma, to introduce the capital markets to locals, Myanmar joined the Financial Services Agency and the Japan International Agency.